Taking it to the next level in any industry or sector is rarely a walk in the park but, right now, the B2B landscape poses a challenge to any new or existing business actively on the search for significant growth.
From ensuring strong B2B sales incentives (not to mention client incentives) to creating your ideal customer profile, here are just a few of the best ways to boost business to business sales in 2021.
1. Do your research
Market research will forever represent the heart and soul of any profitable enterprise, and it’s not just reserved for fledgling businesses and start-ups. Investing plenty of time into continually researching your market and, of course, your competitors will always open up new avenues for boosting sales.
Similarly, doing your own surveys amongst your existing customer base, and collating their feedback into one broad view of your business, will always pay dividends in the long run.
2. Foster loyalty
It’s not all about pursuing leads and making that initial pitch.
As your B2B enterprise grows, its backbone will comprise those loyal customers who are ready and willing to develop long-term relationships with your brand, and that’s exactly why you should pursue a strong B2B customer loyalty programme, specifically designed to prioritise a high retention rate and, with it, strong sales.
While loyalty programmes may be more familiar sights in the realm of B2C, their value for creating B2B loyalty is potentially very high, and can cater to the full channel, from supplier and distributor loyalty to vendor rewards, and client incentives.
3. Incentivise the sales team
It doesn’t take a genius to realise the correlation between an incentivised sales team, and higher monthly and yearly sales figures. This includes both monetary incentives, and other rewards based upon sales quotas.
According to the Harvard Business Review, motivating salespeople via purpose-built direct sales team incentives is highly effective – as evidenced by the fact that, when these incentives are taken away or altered in a way that does not readily suit the needs of the sales team, performances drop.
4. Utilise video
Whether you are offering a service or a product, the fact remains that video represents the ideal medium for garnering the attention of prospects, and ensuring greater faith in what it is you are offering.
According to recent research, our brains process visuals 60,000 times faster than text, meaning that the easiest way to ensure that your prospects and leads are taking on as much information in as little time as possible is to convey plenty of information via this immersive medium.
5. Define your buyer
Known formally as the ideal customer profile (ICP), creating a crystal clear image of your business’s ‘dream buyer’ is a great way to ensure that everyone is on the same page, and that your sales team are all focussing their efforts in the most lucrative area possible.
It can be surprising to learn how differently your salespeople think about the ICP, and how beneficial it can be to create one target for the entire team to aim toward.